Critical Minerals Strategy 2023-2030

Country / jurisdiction: Australia · Year: 2023 · Status: In force · Level: National · Type: Voluntary

The Australian Critical Minerals Strategy 2023–2030 provides a framework for the country to develop its critical minerals production, processing and supply chains while creating jobs and economic opportunity. The Strategy was developed through a public consultation process and aims to facilitate collaboration across communities, industry, investors, the research and innovation sector, states and territories and international partners.

Priorities are established across six focus areas:

1. Developing strategically important projects

Provide targeted and proportionate support to de-risk projects, crowd in commercial finance and help overcome market distortions;

Enable a pipeline of new critical mineral discoveries and projects by supporting exploration;

Review R&D support, including licensing and commercialisation settings;

Attract international IP to grow domestic capability in refining and processing critical minerals;

Analyse domestic industries and develop options to ensure Australian industries can access the minerals they need.

2. Attracting investment and building international partnerships

Optimise trade and investment settings for priority technologies;

Facilitate business-to-business engagement, including business missions, to secure offtake, equity and debt;

Attract international investment to support project development and downstream processing opportunities aligned with our national interest;

Step up international engagement with bilateral partners and in multilateral forums to align policy frameworks.

3. First Nations engagement and benefit sharing

Strengthen engagement and partnerships with First Nations people and communities, respecting their land and water rights and interests;

Support the critical minerals sector’s immediate and long-term social licence to operate and its ongoing sustainability by creating economic opportunities in regional and First Nations communities while protecting cultural heritage and sacred sites;

Work with First Nations communities and their representative organisations to build their capacity to engage with critical minerals proponents;

Work to improve equity and investment opportunities for First Nations interests.

4. Promoting Australia as a world leader in ESG performance

Reinforce ESG credentials to maintain social licence and improve market access;

Shape global ESG standards to ensure the clean energy transition is socially and environmentally responsible;

Work with all levels of government to streamline environmental approvals.

5. Unlocking investment in enabling infrastructure and services

Work with jurisdictions and industry on ways to unlock investment in enabling infrastructure;

Ensure public and private infrastructure investment decisions appropriately consider critical minerals projects and related heavy industry precincts;

Consider how existing infrastructure projects can be augmented to help achieve the vision of this Strategy.

6. Growing a skilled workforce

Build on existing investment in skills and education to increase the number of highly skilled specialists available for critical minerals projects;

Consider how to better target and apply skilled migration settings to support industry needs;

Work with industry and state and territory governments to improve community sentiment and understanding of the mining sector’s role in energy transition and lift its profile by highlighting the broad range of employment opportunities available, including the role of critical minerals and energy transition metals in net zero.

Official source: https://www.industry.gov.au/publications/critical-minerals-strategy-2023-2030